Deal Details
Private Loan Type
Purchase
Approx. Funding Date
03/09/2023
Property Type
Multifamily
Property City
Long Beach
Property State
CA
Loan Term (months)
24
Lien Type
1st Trust Deed
Purchase Price
$2,000,000
Loan-to-Purchase Price
62.5%
Source of Borrower's Contribution
Cash
Location Type
Urban
Property Condition
Fair
Occupancy at Closing
Partially Occupied
Borrower's Plan
Rehab and Sell
Exit Strategy
Sale
Interest Rate
7.5%
Origination Points
2.25%
Dealmakers
Mike Meisenbach
Loan Agent
CA DRE Lic. 01049908